Dear reader, have a look at this…unbelievable, sanctimonious and self indulgent in the extreme post recieved today.
It is funny, you are all about shutting down Acenden. Have you thought about the 300+ staff that will lose their jobs? Those staff are human beings and people with lives to lead too. Those staff follow company procedures and you will make them suffer? How is that right or fair?
NO. Nothing about about Acenden/Capstone is remotely funny. Not even slightly amusing. They have broken up families, been a major contributory factor in suicides and have caused unemployment by driving people out of their homes. How can you work when you are made homeless? No employer entertains someone of no fixed abode. MORON.
I have DREAMED A DREAM about the 300+ staff losing their jobs for the filthy work they do. Many people offer productive rather than parasitic jobs to the economy. Note that parasites always lose. Acenden Capstone are parasites of the highest order. If the economy can cope with 2500 HMV workers going on the dole then it surely cope with 300+ lying thieving consumer abusing, law breaking twats ending up on the same slag heap.
People following procedures ARE SHEEP. They have no morality. no conscience, no initiative. WE WERE ONLY OBEYING ORDERS! Yes. Perfect. We made at least 100,000 peoples lives HELL because we were only following PROCEDURES.
That’s why the Likes of Amany with her her gold plated pension employed proles like you. The trouble is you are already next in line.
Don’t hate us for pointing out this rather obvious hypocrisy. Direct your anger elsewhere. If 300+ of your appalling outfit lose their jobs I really cannot shed tears.
Quite frankly after the human misery you lot have caused you can all go and jump into a big vat of boiling oil.
Sympathy for the devil is great.
Sympathy for the devil called Capstone/ Acenden and its employees who engaged in these appalling practices whilst parading themselves as good upstanding citizens is a step too far for me and several many others.
CAPSTONE ACENDEN ARE AND WILL REMAIN THE SCUM OF THE SUB PRIME MORTGAGE UNIVERSE IN THE UK.
The Filth Capstone Acenden have a lot to explain. They have a lot to account for. And they have so, so much more to apologise for.
As it happens so do the regulators. They let this happen on their watch and did nothing. More than DO NOTHING the likes of Margaret Cole and Hector Sants (the former Credit Suisse First Boston banker) lent themselves to a consumer stitch up of gargantuan proportions. Hector bailed out and on doing so said the following
“I am proud of what the FSA has achieved during my time in charge, through what have been incredibly challenging times.”
If Hector was referring to squaring up against GMAC-RFC, Kensington, Deutsche and Redstone then he may have a small but arguable point, If he was referring to Capstone Acenden he should accept the pearl handled revolver and not the golden settlement.* If he was referring to challenging times he should try living down main street. I ended up with these con merchants because Bob Diamond’s Barclays referred me to them! And I can honestly say that the effect on my family’s finances and future has been near catastrophic. (Not to mention the emotional turmoil of being falsely accused of missing payments at home because a lying letter has landed on the doormat)
As for Margaret Cole, well – Margaret cosied up with the administrators PwC on a cool £1m per year. Nice work if you can get it when you used to be head of “enforcement” at the FSA. Was in this in return for ensuring that the remnants of the Lehman estate would be free from the burden of “unnecessary regulatory fees?”
The relationship between the FSA and PwC has been well documented here and elsewhere. If the administrators of the Lehman bankruptcy here in the UK are also at one and the same time able to lean on the regulator concerning favourable treatment over the winding down of these toxic assets (Whereas other sub prime lenders were not) where exactly does this leave the FSA? I would guess at the very least the other sub prime garbage merchants are spitting feathers at this.
The answer to this question of course is simple. The FSA is to be closed down and replaced with the Financial Conduct Authority. Meet the new boss. Same as the old boss. We won’t get fooled again.
So Mr. Wheately can you offer anything different? It is sincerely hoped that you can. You cannot even begin to comprehend the scale and the magnitude of the financial abuse that has occurred here. Even if you could, you, as any other human being should be horrified at the appalling harassment we have faced. The tactics that this disgusting third party administrator have adopted throughout the last 10 years (maybe more) would make any decent person shiver.
In a wider context this unparalleled financial abuse of consumers has far reaching ramifications for the economy as a whole. The ripple effect of this legalised theft of first people’s money and then their homes has far reaching consequences.
Mr.Wheatley are you listening where your predecessor did not?
Over to you Mr. Wheatley.
*The 56-year-old wants to find another senior job in the public or private sector after his six-month gardening leave ends. He will remain on full pay during this period and will also be entitled to an annual bonus, which he usually gives to charity. Last year he received a bonus of £115,000, as well as a £500,000 salary, £60,000 pension and other benefits worth £131,810.
2012 has been a difficult year for all of us involved here – there’s no doubt about that. It’s been more than difficult for those of you persecuted, cheated and robbed by Capstone Acenden.
We set up this site for three reasons. The first was to put pressure on the filthy rule abusing corporate scroungers who adopted the rather peculiar stance that robbing people and being virtuous about it is somehow a morally compatible position.
This leads us to the second reason. We wanted the regulators who were quite willing to impose final notices, fines and compensation orders on other sub prime cowboys to act with consistency and give this appalling outfit the public kicking they deserve. We are still waiting for that slender hope to be realised.
The third reason of course was to act as a community and a forum of support to the victims of the filth. We can only apologise for our own failings here. There have been many serious reasons behind this and the users of this site are asked to understand this.
However. If and when we shut up lock stock and barrel we will do so without petering out.
Keep fighting and the truth will come out.
If you keep pressing long enough the truth will come out. And it’s important to remember that.
WHY?..Because it is the truth that sets you free and by pressing it WILL come out.
It’s the truth that gives you a foundation for justice to be realised.
It’s the truth that shames your detractors and liquidators (like the filth they are) for having robbed, destroyed and greedily thrived with unquantifiable cost to the ordinary family at no cost to themselves – except to their longer term conscience which will always come back to haunt at least some of them. We live in – at least – that much hope.
In the meantime the truth - when we get it – will give you vindication that something was deeply rotten and corrupt here.
And it was deeply rotten and corrupt.
It may not benefit us. Too much damage has happened for that to be realistic, though one always lives in hope. But it may just be possible to haul this chaos back into check for a while and so prevent our children ( and theirs) from this exploitation and abuse when they grow up. It’s a vain hope, but some vain hopes are worth keeping.
Here’s the depressing news. We have placed our faith in duplicitous politicians and spineless look out for themselves regulators. And what did we get? Here’s a couple of examples.
Grant Shapps, former housing Minister, (now Tory Party Chairman) who many of you contacted in trust, hope and confidence with your Acenden Capstone filth problems) turns out to have had an alter ego (Michael Green) who published a very expensive £400 book on how to fiddle google search engines. I will not detail this here but any simple google search will do. Needless to say he won’t looking out for us, unless anyone of us who did contact him got him to sort the evil shysters Capstone Acenden out. In the interest of fair play anyone who did actually have their problems with the filth resolved by Grant should get in touch.
Margaret Cole, former head of enforcement at the Financial Services Authority left last year to become a £1m per year “employee” of the asset stripping Price Waterhouse Cooper accountancy “big four” firm responsible for the “orderly winding down” of the remnants of Lehman Brothers estate here in the UK (that’s SPPL, SPML etc).
Orderly winding down is of course a euphemism for financial ethnic cleansing so it is no wonder that PwC got a green light from the FSA where Margaret was in control to let SPML etc be absolved from any regulatory fines.
The others who did get “fined” (£10 in their money – such as Kensington, GMAC-RFC) should be spitting feathers that Capstone/Acenden, Lehman, SPML EUROSIAL, SPPL, have walked between the raindrops and got away with their far worse abuses of the consumer. How does it feel to be patsies boys? You have to take the hit for them. Bey you love it. Not.
How come a company so financially and morally bankrupt like Lehmans get to walk away without any unnecessary regulatory fees? Perhaps Margaret would like to answer that one.
So there are lots of questions and no answers and in all likelihood no-one will ever “gimme some truth.”
However those who know of us and those who don’t but should will be assured that if it takes as long as it has taken other pilloried groups to get the record put straight, we will not go silent until this pilloried group get some justice.
The truth has a major purging effect. It allows people to reconstruct and build upon shattered foundations. It allows for more confident relationships to be built. It benefits all sides and all parties, even if some parties have to lose some dignity (and cash) in the process.
What is not fair is that we have lost all cash and all dignity and they have taken all the cash with their dignity barely impugned at all, save for us here. Their dignity should be daily impugned and I am proud that we have exposed the moral bankruptcy of at least some of the employees and some of their higher management.
We can ask for legal disclosure but that may or may not happen. It doesn’t happen because the system is bent and scumbags like Capone stone KNOW they can get away with it. That kind of impunity has to end. NOW.
We want some truth and despite having asked a series of specific questions before to no avail we will continue to ask the questions.
The rationale is simple. A question repeatedly unanswered is probably a good question to ask.
GIVE US SOME TRUTH.
Part Two tomorrow or soon after. Contributors fire up your questions but please please please keep them short. We want the full range of the abuses addressed.
Pity Margaret ‘PwC” Cole, didn’t get a mention here. She’s now off to the ‘Dark Side” – no doubt in return for ensuring that the remnants were not burdened by “unnecessary regulatory fees.”
The filthy and disgusting practices of the LIBOR fixing complicit Acenden. That’s where we were!
We have to apologise profusely to the community of users who found common ground here. So here goes.
We are deeply sorry that this site has been shut down for so long for those of you who found it a comfort or help in your constant battles with Acenden.
These ruthless liquidators of people’s lives and hopes are of course the deeply disturbing remnant entity of the Lehman’s estate which caused so much chaos around the world.
We hope sincerely hope that we are forgiven for what was a combination of technical, communication and personal factors that led to the prolonged inactivity and subsequent closure of this site. If you have found this site a useful source (and mixture) of moral and practical support then let us assure you, and THEM, we are BACK.
The filth AKA CAPSTONE ACENDEN are still very much in business. And so are we.
Let the missing catalogue of abuse over these last few months be recorded. There will no doubt be plenty to record.
POST IT UP!
Users need to tread carefully when asking for information from other users.
I am VERY disturbed by certain recent and frequent requests that certain users divulge information to other users and I understand the urgency some may have but HEY.
LET”S JUST HOLD A LITTLE HERE.
There are issues of confidentiality at stake, and worse, the threat of reprisals from the vicious filth. Whatever your needs are they can be addressed without asking other users to divulge documents or other such particulars.
I WOULD URGE THAT ANYONE REQUESTED TO DO SO DOES NO SUCH THING. We are not set up in the way that MSE or CAG are. We are VERY small in number and inevitably have our own issues and day to day existences to deal with.
So many consumer forums maintain the identity of their contributors and members for obvious reasons. We would ask for observance that here. This extends to posting documents, full names and YES real email addresses. We don’t want them and we don’t need them.
So for purposes of posting: PLEASE DON”T GIVE YOUR SURNAME AND MAKE UP A FIRST NAME.
For purposes of listing an email address just make one up: e.g email@example.com. Totally spurious but your message will still get through, though we may have to clear the dog pile later.
For purposes of soliciting information about defending in court or running through the FOS etc, the relevant material is already there on site. You JUST have to look. If you can’t find it ask. If you DO find it and don’t understand it. ASK AGAIN
For purposes of tackling the filth PLEASE DO NOT ASK OTHERS TO POST DOCUMENTATION OR DETAILS. This exposes them to enormous risk. Instead you should ask them to send a general email to the site team for advice.
NOTE: all emails sent to the site team will be treated confidentially. We will not disclose, or risk exposure, of your ID.
Hope that helps.
I have found their site very tricky to use and poorly set up. It is badly put together for a start. The problem is an Acenden loophole that I have never come across before which is when you pay by debit which leaves your account immediately AND you are given an authorisation code which confirms that it has been received – you’d think – Acenden reserve the right to later (and it can be 8 to 12 days later) cancel the payment on the grounds that they perform some sort of manual check to prevent “money laundering” – or so they have told me on two separate occasions, and they do say on their site that if the card is not registered to the same address as the mortgaged property they will subsequently refuse the payment. As the money has already left your account, it then doesn’t get recredited, we don’t get told what has happened, there is another alleged “missed payment” and someone somewhere has trousered the payment. Sorting this out is nigh impossible since they will deny ever having had the money, despite the bank statements and the authorisation code, and the printout of the transaction. Now is this company policy or is it individual employees helping themselves to a quiet bunce?
If, as one of our correspondents alleges, Acenden are losing trace of payments made via their much trumpeted website that gained so many gold stars and Blue Peter badges from S&P only one of two conclusions can be drawn. These are as follows:
a) Acenden are incompetent and cannot be entrusted with any licence to trade, or
b) Acenden is deliberately siphoning of these payments in a criminally corrupt conspiracy to defraud customers and the SPVs, in order to hoodwink courts and maximise repossessions and their own profit margins.
(Do they really secrete overpayments into a separate account if the total overpayment is less than £1000?)
Anyway, being charitable I’d go for incompetence.
But then again seeking to be charitable to this filthy bunch of liars, cheats and thieves takes several leaps of faith too far. My betting is on b).
The regulators should really take a look, providing of course that there is no conflict of interest that might actually prevent them from regulating in the first place.
Having now gone over 55,000 hits on this incarnation of the Capstone Action Group site, 38,000 on the one they gagged via wordpress and 9,500 on the very first dedicated site to the filth we can proudly announce
100,000 + HITS…
Thank you for keeping this going.
This is, and will remain, a FREE RESOURCE and forum
dedicated to calling Capstone/Acenden to account.
Is there an email at the FSA where this kind of stuff could be forwarded?
We don’t mean the kind of email where some junior picks it up and puts it in their pending tray - but an email that actually gets through to the cloth eared coneheads that actually run the show?
This means the main players at the main forefront of INTRUSIVE FORWARD TWIN PEAKS REGULATION, whatever that is supposed to mean in practice.
More of the same we guess.
So here is MORE OF THE SAME, received just today. The appalling silence by the FSA on this firm cannot be sustained any longer. The facts simply scream consumer abuse, a firm out of control and injustice. AN INJUSTICE THAT THE FSA HAS TURNED A BLIND EYE TO FOR FAR TOO LONG. THE FSA KNOWS ABOUT THIS. IT JUST DOESN’T CONCERN ITSELF. A VERY GOOD QUESTION IS WHY NOT?
Here is just yet another sad sorry tale that if interviewed live on radio or television, NOBODY IN THE FSA, could defend without promising to look into what is obviously an apparent failure in an “individual case”.
IT’S SERIAL, ENDEMIC AND CULTURAL TO THIS LOT!
Close them down and secure appropriate redress for consumers who have suffered as Helen here has…
Despite breaching every rule in the MCOB book.
Despite wilfully doing so, to huge consumer detriment, and flagrant disregard for principle six…
Despite all the anguished (but utterly ineffective) howls of protest and Despite the devastation being wreaked on good decent FAMILIES by the spawn of Lehmans across the country…
Despite all the other regulatory breaches and DESPITE (not least) the failure to comply with company law it seems that CAPSTONE ACENDEN, the filth to end all other filth, Walk between the raindrops.
THIS MATTER IS NOW SO PRESSING THAT THE FSA MUST TAKE ACTION. It is abundantly clear that the regular is one of the following:
(a) ignorant of these matters (that simply doesn’t hold up),
(b) incompetent (not true – even though it might appear thus) or,
(c) is complicit in burying all this in a great big deep hole because they’ve been leant on by HMRC, The Treasury and PwC
I know which one I’d go for. No wonder so may people are furious at the filth Capstone and Acenden. They should be even more furious with the FSA and their sidekicks in the OFT who jointly regulate this catastrophic dereliction of duty.
How many more families are going to have to pay the price for the abject failure of the FSA and the OFT?
Sorry about the SHOUTING.
Some of you may have seen THIS COMMENT BELOW obviously posted by some fringe member of the lunatic cohort otherwise known as Acenden apologists.
Anyway, not wishing to be accused of being fast and loose with FACTS – credibility being important – I searched in vain to support THIS SITE’S ASSERTION that the FSA had taken control of second charge mortgages as of 31 January 2012.
I know I read this somewhere credible such as from the FSA themselves, or the OFT, or the Treasury…..mmm – that’s maybe where I went wrong. But as I have said I searched in vain. No matter. The silence from the FSA concerning this bunch of desperado con merchants remains deafening in any case.
Anyhow back to THE MATTER IN HAND FROM THE SHOUTER. He or she claims 2014 AT THE EARLIEST and that YOU (i.e. us – ) ARE WRONG. Here’s the post:
Col Payne says:
? NOT HAPPENING UNTIL 2014 AT THE EARLIEST. YOU HAVE THIS WRONG
So being that I HAVE THIS WRONG (apologies for SHOUTING AGAIN!!!) I thought I’d check this out and all the indications from all the various sources I could find seem to back me up.
It may well be that “Col Payne” is well on the inside and therefore better informed than the following sources so hey, it’s no big deal. I’ll concede. Why doesn’t the Treasury, the FSA and the OFT just tell us when it will be then instead of back peddling?
Here’s the evidence, pointing pretty substantially, to a 2012 transfer.
HM TREASURY – This one is particularly instructive on the date of commencement. I would say that YOU ARE RIGHT. BUT WE ARE CLOSER. BY A MILE AND A COUNTRY DISTANCE AT LEAST.
oops.. sorry for the SHOUTING COL.
Please don’t waste our time with inaccurate postings of six to ten words.
If you have something constructive to criticise with go ahead and do it. If you don’t you can go and build your own site, where you can exercise your right to free speech on the wonders of this terrible outfit you seem so keen to defend. TROLL.
And on the subject of terrible organisations does anyone have ANY clue what ‘twin peaks’ regulation is? Anyone, please…?
I know there is a focus on blue sky thinking, horizon scanning, pushing the envelope and thinking outside of the box but this terrible jargon speak has really got too much.
One thing is for certain. There’s no ‘I” in team and there is certainly no F*A regulating in the FSA.
Nobody heard a peep.
Not even a whisper.
No, nothing..nothing at all on the 31st January 2012. But you should have.
You should have heard that the FSA now take ownership and responsibility for the appalling peddling that went on over 2nd charges. Many of those 2nd charges have been irresponsibly funded and irresponsibly managed – the latter being a self evident truth when you know about the disgusting and quite frankly fraudulent practices that Capstone Acenden get up to.
Habitually – even addictively – like some fraud junkie – they could not (and still DO NOT) exercise restraint. They are conditioned and pre-programmed to rip the wind from your sails, the money from your bank account and your guts from your innards.And they like to be proud of it in the process.
Take for example the ongoing insurance fraud. Many housing association shared ownership mortgagees ended up with the vile spawn of Lehmans Capstone Acenden, after applying to the Leeds, the Leicester and the rest of the old style mutuals for the share that wasn’t put up by the HA.
Fair enough. But having been shoved around a fair bit for the mortgage that was “right for them” some referral was made here there or everywhere so that eventually they end up with the filth of the universe.
Well that’s OK isn’t it? Just ask Alliance and Leicester mortgage holders their satisfaction after the administration of their mortgages was “outsourced” to the filth.
TheiInsurance fraud has been well documented. They require that you have buildings insurance.
This requirement is an absolute.
They will organise for it to be in place though they may not even have the good grace to tell you so.
They will ensure that the contract they have for this massive buildings insurance is lucrative for them and even if you have your own, prove that you have your own, and send all relevant documentation to that effect they will still charge you for their policy. If you are lucky you might even get to find out about this in the first place. Ask for a refund. You will get between 20 and 50%. But again only if you are lucky. They will charge a cancellation fee of £50, but ooops,…forget to cancel. They won’t forget to charge the fee though.
Which leads us to this. The regulator. Aaaah….the regulator. The regulator that fails to regulate. Much like the clock that does not tick, the law that does not work or the regulation that exists more in its breach than its observance.
Some insight into the wit, wisdom and irony of Hector. What better way for that to happen than to use his own words.
Hector Sants said:
“The move to twin peaks is an opportunity to drive home and further embed the move to forward-looking, proactive, judgement-based supervision. It is an opportunity that must not be missed. We must crystallise the change from the old style reactive approach to the new style proactive approach.
“The most important change that will occur at twin peaks, in my judgement, is not the introduction of a new operational framework, but the opportunity to accelerate the process of behavioural change that the FSA embarked on when we began the reform of the supervisory process in the spring of 2008.”
He argued that if this new approach is to work effectively, firms would need to change the way they thought about regulation. Firms will be expected to:
- recognise the importance of aligning their goals with those of the supervisors and society as a whole;
- show a greater willingness to proactively comply with supervisory judgements. “We are not asking firms to forgo their right to challenge their supervisor if their decisions have not been properly made. But we are suggesting that dragging their feet in complying with requests when it is obvious to all that the outcome is in the best interest of society as a whole is not a behaviour which should survive in the new world”; and
- Recognise that this new approach will require greater resources and expertise and thus costs more than the old reactive model which existed prior to the crisis.
Hector Sants concluded:
“It is really important that we must use this opportunity to accelerate the behavioural and cultural change needed in both regulators and firms. The new world of judgement-based regulation needs to be embraced by us all.”
I know the regulatory gap between what should happen and what does happen is as wide as could be.
I’d not realised that we are now in David Lynch mode and that we must look to ‘twin peaks” for salvation.
My goodness gracious me, a Freudian therapist would have enough for a weekend case conference with this psychobabble nonsense.